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Increasing competition in the auto industry can lead to several potential impacts. It can drive innovation as companies strive to differentiate themselves from their competitors. This can result in the development of new technologies, improved efficiency, and better products. It can also lead to price competition, which can benefit consumers. However, it can also lead to market saturation, where there are too many similar products, making it difficult for companies to maintain profitability. Additionally, increased competition can lead to consolidation in the industry, as companies may merge to strengthen their market position.
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For example, think about the competition in the auto industry. There are so many automotive companies, from legacy giants like Toyota and VW with great assembly lines and scale to new EV upstarts popping up every day that want to compete and become the next Tesla. With a market cap of over $700B, can you blame them? But with so much competition, how do any of these startups offer something unique that other legacy brands don't can't? A strategy group analysis can help.
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Do you feel trapped to outdo competitors? Better strategies can build a stronger defense against competition and generate higher ROI on your strategic...
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